Under the agreement, Goldpoly and Kunlun Trust will acquire the entire stake (60% and 40% respectively) in the plants in Chinese provinces including Xinjiang, Gansu and Inner Mongolia during 2013 and 2015.
The transaction is subject to several conditions that include developers are required to obtain necessary approvals from relevant authorities for their plants and associated transmission link; complete construction of the principal part of the project; and secure financial requirements.
Goldpoly executive director/CEO Alan LI said the company will collaborate with major partners to complete new on-grid solar power plants in the near future.
"We will work together with major strategic partners to complete new on-grid solar power plants in the near future.
"We will continue to integrate resources so as to attract more Chinese and international well-known enterprises and institutions participating in joint investments and construction.
"This step will allow the company to become an attractive investment partner in the new energy sector along with major large international investment institutions and outstanding PRC investors," LI added.
